Mandatory Pension Funds Reach Almost 2 Million Members

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ZAGREB, December 27, 2018 – The four Croatian mandatory pension funds had a total of 1.93 million members at the end of November 2018, or about 92,000 more than at the same time in 2017, while their combined assets exceeded 98 billion kuna, according data provided by to the Financial Services Supervisory Agency (HANFA).

Compared with October 2018, the number of insurance policy holders increased by 5.5 percent or by 5,500 people.

The AZ OMF mandatory pension fund had the largest number of insured persons – 664,000 followed by Raiffeisen OMF (577,000), PBZ/CO (363,000) and Erste Plavi (326,000).

A total of 526 million kuna of net pension contributions was paid into the accounts of the four mandatory pension funds during this past November, an increase of 9.98 percent or 47.8 million kuna as against November 2017.

Since the start of this year, 5.56 billion kuna of net pension contributions has been transferred to the four funds’ accounts.

Since the creation of the four funds about 15 years ago, 72.66 billion kuna of net contributions has been paid into their accounts.

Total assets under the management of the compulsory pension insurance funds reached 98.03 billion kuna at the end of November 2018, which is 7 percent or 6.5 billion kuna more than in July 2017.

More news on the pension system in Croatia can be found in our Business section.

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